i ll try to give you a fascinating snapshot of all the world of business and money. let s start here in the uk, where the economy in the first three months of this year recorded growth ofjust 0.1%. output in consumer facing services fell by 0.8% in march underscoring the impact of ongoing strikes and the cost of living crisis. hardly booming but a far cry from the record breaking recession that the bank of england was predicting six months ago. on thursday, the bank announced a major rethink of its forecasts saying the uk will now avoid going into recession. of course, talking about interest rates. the bank also raised its main interest rate again by a quarter of a percent to 4.5%. that s the 12th rate rise in a row and it puts the cost of borrowing here in the uk at a 15 year high. here s dr steve nolan, senior lecturer in economics at liverpool john moores university. good to see you. hardly the doom and gloom of the recession that was predicted, but let s be fr
a bit more persistent. so, in general the market s expecting maybe one or two more interest rate rises, up to about 5%. the fact we are not in recession probably doesn t change that thinking. the man in charge of the uk s economy has welcomed the rise. here s chancellor of the exchequer, jeremy hunt. these are much better figures than anyone would possibly have predicted even three months ago. that is partly because what the governor of the bank of england said yesterday. measures in the budget that are helping to help companies to recruit and tackle some of the underlying problems in the economy. but there is still much work to do. we still have inflation that is much too high, that is causing a lot of pressure forfamilies up and down the country. that is why we have to stick to our plan to get inflation down, to get growth up, and to get the economy motoring in the way that we all want. the uk remains the only g7 country in which the quarterly measure of gdp has not recover
afternoon. that come after manhattan grand jury voted thursday to indict him in order to believe thousands of business fraud charges related to hush money payments to stormy daniels that were made during the 2016 campaign for president. we do not know what is in this indictment. we will see it tuesday when it is released after the arraignment. i fully expect that one of the things we will see us each a transaction, each falsification that is alleged is going into a separate account. the question is are each of those enhanced by the federal election campaign violation? or is it just one felony and 29 misdemeanors? what s has been said the attorney the district attorney has brought 117 of these cases for more on this nate foy at standing outside the supreme court in lower manh manhattan. hey eric, it s pretty quiet outside the manhattan criminal courthouse you can certainly expect that to change the coming days as for her president trump is expected to fly to new york cit
president in us history asks a divided nation to assess his achievements of the first term. there is much to debate. sweeping economic legislation and the recovery after the pandemic at the foreign policy front, marshalling the western alliance to support ukraine, but there s also the withdrawal from afghanistan on his record and high inflation that continues to undercut the efforts to stage an economic revival across the country. with all of that in mind, we can speak to michelle in new york. this announcement was not met with surprise but has it been met with surprise but has it been met with much enthusiasm? if with surprise but has it been met with much enthusiasm?- with surprise but has it been met with much enthusiasm? if you go by the polling. with much enthusiasm? if you go by the polling, there s with much enthusiasm? if you go by the polling, there s a with much enthusiasm? if you go by the polling, there s a sense - with much enthusiasm? if you go by the poll